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Anyone have an ING Direct savings account?

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Anyone have an ING Direct savings account?

Old 12-08-05, 03:15 PM
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Originally Posted by Numanoid
Looks like ED is at 4% now.
So, on the prior $4,000 example, that .25% difference (between current ING and ED rates) would equate to ~$.88 per month favoring ED. Not really enough to have me move my money from ING. Esp. given the warnings given here about the ED website and customer service...
Old 12-08-05, 03:20 PM
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Originally Posted by Y2K Falcon
So, on the prior $4,000 example, that .25% difference (between current ING and ED rates) would equate to ~$.88 per month favoring ED. Not really enough to have me move my money from ING. Esp. given the warnings given here about the ED website and customer service...
Using the same logic, you could argue that a 3.25% or 3.5% is just as good as ING's. I agree that 4.0% vs 3.75% is not a big deal on $4000 grand. It is Is more the idea that if ED can give me 4% so should ING - to remain competitive.

FWIW most of my money is in a 4% checking at Presidential Bank, but they have a $1000 min, of course the money is much more accesible and I get online bill pay.
Old 12-08-05, 03:27 PM
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Well, if we're gonna FWIW..

FWIW... Most of "our" money is in an account my wife has at BOFA at .5%.

And don't get me started on thieving Chase Bank who took my $20 on a $5 deposit for a .5% trust account set up for my stepson.


And your example that ing SHOULD pay that rate to be competitive only holds water if we can state that all other factors are equal. It seems that some favor ING for other factors.
Old 12-08-05, 03:31 PM
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Originally Posted by Y2K Falcon
So, on the prior $4,000 example, that .25% difference (between current ING and ED rates) would equate to ~$.88 per month favoring ED. Not really enough to have me move my money from ING. Esp. given the warnings given here about the ED website and customer service...
True, but ED's rate has been 4% for several months now, whereas ING just raised their rate to 3.75% a few days ago.
Old 12-08-05, 04:07 PM
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Originally Posted by Y2K Falcon
Well, if we're gonna FWIW..

FWIW... Most of "our" money is in an account my wife has at BOFA at .5%.

And don't get me started on thieving Chase Bank who took my $20 on a $5 deposit for a .5% trust account set up for my stepson.


And your example that ing SHOULD pay that rate to be competitive only holds water if we can state that all other factors are equal. It seems that some favor ING for other factors.
Don't get ME start on Washington Mutual -> THIEVES!

I still like ING. Reliable, excellent webstite and custumer service and competitive rates.
Old 12-08-05, 07:55 PM
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Can anyone that has an ING account log in to their account today? I haven't been able to access my balances on the website all day.....
Old 12-08-05, 09:07 PM
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I just logged in, no problems here.
Old 12-08-05, 09:16 PM
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Just logged in, no problems here. Decided to take the opportunity to update MS Money, since I hadn't downloaded since July.
Old 12-08-05, 11:30 PM
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My ex just hooked me up with some money and opened an IGN account for me. It seems cool so we'll see.
Old 12-09-05, 08:45 AM
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Anyone have a Capital One account? How is it compared to ING or ED? From their website it looks like the savings rate is currently at 4%.

On a side note, like some previous posters, my wife and I have a little money saved up for a down payment on a house. Since the amount is over $100K we have made an effort to keep it in multiple accounts in order to ensure that it is covered by FDIC ($100K per individual account from my understanding). If I open an account at ING, Capital One, or ED with $100K is there anything in the rules that might prevent me from transfering the interest out every month (to stay under the FDIC limit)? I didn't see anything but I was hoping maybe someone else here has some experience with this type of thing.

Last edited by sivadc; 12-09-05 at 09:02 AM.
Old 12-09-05, 10:52 AM
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I believe that you and your wife would be FDIC insured up to $200,000 since you are a couple. Don't quote me on this but there was a thread over on one of those websites that talks about the best interest rate deals for savings. Do some research and you should find that that's the case.
Old 12-10-05, 02:53 PM
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Sadly I just opened up one of these too, it's sad because I've been using the generic bank savings with like .5% interest rate for a year or so, with to me, a decent amount in it.

Thanks for the thread.
Old 12-10-05, 03:56 PM
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Originally Posted by orangerory
I believe that you and your wife would be FDIC insured up to $200,000 since you are a couple. Don't quote me on this but there was a thread over on one of those websites that talks about the best interest rate deals for savings. Do some research and you should find that that's the case.
Wrong. It's $100k per account, not per person. If you opened multiple accounts, you would be OK.
Old 12-10-05, 04:45 PM
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Originally Posted by ChiTownAbs, Inc
Wrong. It's $100k per account, not per person. If you opened multiple accounts, you would be OK.

Q: If I set up two joint accounts with my husband, one with me as the "primary" user (my name first, using my Social Security number) and another with him as the "primary" user (his name first, using his Social Security number) will those accounts be separately insured?

A: With the deposit insurance rule changes made in April 1999, all funds in joint accounts are insured on a per person basis up to $100,000. Each person's individual share in all joint accounts at the institution is added together and the total for each person insured to $100,000. Rearranging the order of names or changing the Social Security number does not increase the insurance on a joint account.



This is off of the FDIC site. Not sure but is seems a joint account is 100,000 per person. Not that I have to worry about it any time soon.
Old 12-10-05, 04:52 PM
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Originally Posted by SpaceBoy
Sadly I just opened up one of these too, it's sad because I've been using the generic bank savings with like .5% interest rate for a year or so, with to me, a decent amount in it.

Thanks for the thread.
So, you should be happy now!
Old 12-10-05, 05:14 PM
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Go with Emigrant instead
Old 12-10-05, 05:47 PM
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I opened one up several years ago since they offered to put fifty bucks in it. It's still there and I'll be damned if I know how to get it out.
Old 12-11-05, 09:07 PM
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you may want to look at http://us.hsbc.com as well

4.0 apy, plus atm card and better ach transfers (IMO)
Old 12-12-05, 08:34 AM
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Originally Posted by MrJeff
you may want to look at http://us.hsbc.com as well

4.0 apy, plus atm card and better ach transfers (IMO)
That's pretty good. I'm a big ING supporter - but this is tempting (I like the ATM withdrawal/deposit option). ING should at least beat the 4% before the end of the month - or I will switch.
Old 12-13-05, 10:15 AM
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anything is better than the .5% im getting with my BankOne/Chase savings... I love ING, been there for only a few months, and the interest has gone from 3.4% to 3.75% And I haven't had a problem yet. I made more in interest, in one month at ING, than I made the whole year with Chase/BankOne
Old 12-17-05, 08:18 PM
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I'm looking at opening an account @ ING or HSBC but was wondering if it's better to open up CD rather than an online savings account?
Old 12-17-05, 08:28 PM
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It depends on the length of CD and if you need to use the money in the future. In this rising rate environment a short term 1-2 year cd is NOT a good idea. A long term cd is better, but still not the best.

I have a 5 year CD at 5% which I bought around 7 months ago, when my ING was around 2%, now I have an Emigrant savings that is at 4% - it may surpass my CD rate if the rates continue to rise.

You should look into us treasury i-bonds online because they are setup to protect your money against inflation.
Old 12-18-05, 11:46 AM
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i've got a checking and a savings account with wells fargo. how big of a hassle is it to close that savings account, keep the checking open, and transfer all the money from the savings account to an emigrant account?
Old 12-19-05, 08:54 AM
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I just signed up with Emigrant for my newly acquired lump sum
Wasn't hard, but took about 2 weeks to get it opened completely. Had to wait for a snail mail to get the initial account access.
Could have gone with IGN but I am greedy
Old 12-19-05, 01:45 PM
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Originally Posted by costanza
i've got a checking and a savings account with wells fargo. how big of a hassle is it to close that savings account, keep the checking open, and transfer all the money from the savings account to an emigrant account?
Not atll. Open the account (linked to your checking automatically), transfer money from savings to checking, then to ING/ED and close your savings.

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